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Buying Housing during the Covid-19 Pandemic


It has been more than a year since the Covid-19 virus has hit the whole world, not to be spared from this dangerous virus outbreak, the United States has also experienced its tremendous impact, even today people with Corona Virus Covid-19 in the USA are still the country with the highest rate of sufferers. positive and who died.

This condition is not only an obstacle to health, it has even paralyzed various aspects of human life today. As economic conditions worsened, many companies went bankrupt and it was difficult to get income as a result of the outbreak of Covid-19.

In terms of development, the property world has also not escaped the impact of the Covid-19 virus storm, weakening purchasing power and declining property prices in the market, making business people in this sector feel the impact of a large amount of losses.

It was reported from https://www.stlouisfed.org that the new listings also fell by more than 40% in April compared to the same period last year. Due to a lack of new listings and already low inventories, the housing supply fell to new lows. Inventories of homes for sale fell 17% in April compared with the same period last year, according to Redfin.

Buyers also reduce their home buying activity. Home views per listing in the US fell by more than 40% in April compared to the same period last year.2 Other measures of housing demand - such as online search activity, agency queries and offers made - also fell sharply in April.

Reporting from Reuters, home construction in the US fell by 22.3 percent or only 1.21 million units in March. Previously, house construction in February also decreased to 1.56 million units.

The decline in development is the impact of efforts to prevent the spread of Covid-19. "Many businesses and governments only operate at limited capacity during the pandemic," said the US Commerce Department.

Not only that, the issuance of house construction permits also decreased by 6.8 percent or 1.35 million units in March. Thus, the American housing market entered a recovery phase again.

The decline in home construction is in line with US retail sales data, which fell by 8.7 percent in March. The decline is the deepest since 1946.

Economists assess the US economy is ready for a recession. Contraction has even started to occur in the first quarter of this year.

But of course this condition does not happen forever, there is a time when it is now called a new normal, so real estate business people start moving to get profit from their business. Here are at least some tips for those of you who still want to have a dream home in this pandemic:

1. Consider the Need for Your Dream Home

During this pandemic, many people do their activities from home. So that the need for a house is actually more than it was before this pandemic, therefore, if you want to own a house today, of course, aspects of the needs of your dream home are very important to pay attention to.

You can do a survey first, before deciding to choose a comfortable residence for your family, you can start by communicating with trusted property agents in your respective cities.

In order not to go wrong in choosing real estate for your beloved family, ask a developer agency for details about housing that is suitable for you and your family. Also ask for the details of home design, type of house to the financing needed in planning your home purchase.

2. Research Before Buying

You will buy a house with a cash or credit system, this is important to estimate the available funds, if without careful calculations you will experience losses when buying a house during this pandemic.

Nowadays, of course, developers are competing in providing attractive programs and promos, so choosing the best from the existing ones will certainly make you get the benefits and as you wish.

Do not let after taking one of the available housing, then you regret that in another place the provider provides many conveniences and attractive promos with the same type and specifications of the house.

3. Choose an Experienced and Good Reputation Developer

Having a dream home today, especially in big cities like New York and its surroundings, certainly cannot be done directly without intermediaries such as developers or property agents. So it is important for you to choose a developer who is experienced and provides the best offer for your housing needs.

Travel property provider companies can make your reference in choosing trust in them, just choose according to your wishes and in your opinion it is the best of what is available.

4. Calculate Your Finances

Financial issues are the main thing in fulfilling your needs to fulfill the desire to buy the property of your dreams. So you need to estimate the costs out for your housing needs.

For example, if you use a home credit purchase system, then calculate how many poko installments per month and how much interest you have to pay each month, besides that you also need to estimate how many years the installment period will take.

To facilitate your work in calculating the principal payments and the amount of interest on your dream home, you can use the site https://www.mortgagecalculators.info/ on this site there is a free calculator for calculating your housing payment needs.

Please visit the site, here you can calculate the Monthly Mortgage Payment Amount Calculator. Here you can calculate your housing payment requirements.

Use this free tool to calculate your monthly payment for a specific loan amount. As a basic calculator, it quickly calculates principal & interest payments on fixed rate loans.

Thus the information about this mortgagecalculators, may be useful for all of you.

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